Eden Connelly
edenc@jacksoncriss.co.uk
0207 637 7100
South Lakeland Retail Park, Kendal
- Kendal is an affluent market town in Cumbria, often referred to as the 'getaway' to the Lakes and is the principal service centre for South Lakeland.
- The wider South Lakeland area, now part of the Westmorland and Furness unitary authority, has historically generated around 44% of Cumbria's entire visitor economy (c. £1.3bn of Cumbria's £3bn total), supporting an estimated 16,000+ full time equivalent jobs, with the local economy valued at approximately £2.5bn in GVA.
- Total retail expenditure stood at £574m in 2025, and per capita total retail expenditure of £7,433, ranking Kendal 8th out of the 200 PROMIS centres on this measure.
- South Lakeland Retail park is the sole retail warehousing provision in Kendal.
- The park comprises 63,434 sq ft (5,893 sq m) of accommodation on a total site area of 3.44 acres (1.39 hectares).
- The park is fully let to leading national occupiers: B&M, Mountain Warehouse, The Food Warehouse, Pets at Home, Currys and Halfords.
- WAULT of 4.5 years (3.5 years to break).
- Excellent income security with 100% of the income secured against occupiers with an Experian Rating of 'very low risk of default'.
- Total gross contractual income of £989,685 pa (£15.60 psf), following the deduction of landlord shortfalls of £417, the park has a net operating income of £989,268 pa.
- Robust tenant demand and reversionary prospects evidenced by the recent letting to Mountain Warehouse at a rental of £17.65 psf on 11,650 sq ft.
Our clients are seeking offers in excess of £13,740,000 (Thirteen Million Seven Hundred and Forty Thousand Pounds), subject to contract and exclusive of VAT, which reflects a net initial yield of 6.75% after allowing for the deduction of standard purchaser's costs.
Yield:
6.75 %
Price:
£13,740,000
Contact:
Jonathan Milburn
07970 617 867
jonm@jacksoncriss.co.uk
Rhodri Jones
07570 684 444
rjones@jacksoncriss.co.uk